RE:RE:RE:Patience Whatever the results of the April presentation are, Phillip and friends knew all along they had three tips on their “trident” strategy: Chicago Study, Hemophilia Consortium, and thyroid study.
While the last announcement about the Chicago study was great, the timing of taking up the Leede + Canaccord offer IS debatable. The board could have waited till after the April results to do a PP. The way the price pulled back to the valuation of the announced deal (50%+ retreat), tells you more than who “anon” is. It says there is still weakness when it comes to the company delivering on long-term shareholder value. If Canaccord was only willing to do the deal before the hemophilia and thyroid results could be made public, then what does this say? Either the next results are stellar so Canaccord did not have leverage, or the near term results are not in the same stratosphere as the Chicago results, so the vultures do have leverage.
This brings us to the trident AND the shield part. The shield is islet protection so immunity-suppression is not necessary, which is still a couple years out. As game changing as the pouch will be for thyroid and hemophilia patients, when islets are blinded to the immune system, we’ll all be popping champagne corks. In the meantime, the cost of confirming the efficacy of the islet protectants is going to be costly (much more than the $25 million now in the bank). We still need a large pharma to offer to “buy in” through paying for that research (partner collaborate) or they buy the company outright - if long term shareholders are to get fairly rewarded. Canaccord will continue to manipulate the share price along the way. They publicly got in on this story a few weeks ago. Privately and anonymously they’ve been around for a while and have decided they’d like to be around when it comes time to work out what the board sees as the suitors “best” offers.
They waited for the de-risking of the diabetes research. Now they’ll pump other results but we all know what the grail is here. What we really need is scientists getting everything in place to test islet protection. Now. That effort takes shareholders from fancy swords and shields, to the nuclear option. In the meantime, there’s an AGM coming up. I guess we’ll find out how patient our “freshly out of the closet” fellow investors are, when it comes to the results timelines they see as pertaining to their PP investment. They’ve shown how they get their way in the last few weeks. The rest of us need some seal team six scientists and our voices heard at the AGM. Otherwise the Ray Matthews Shyte Show continues.
DF